Hello all Bitcoin at the moment it consolidate inside a huge ascending triangle. We are moving through ABCDE waves which it confirm that actually we have an ascending Bull Flag. Many people they listen Bull Flag and they connect it always with upside movement. Exist many types of Bull Flags and each type has specific results. The current one is an ascending...
I think Bitcoin at the moment has 50 -50 possibilities to go up or down. Today Bulls seems are weak. We have to see that long ago. May is one sign that price soon will start retrace. A support at 9500 - 9550 is a must keeping zone for bulls and a range that is must to close on daily candle. Anything else below this are i expect retracing of price by the...
My Opinion...
Seems Bitcoin will TOP around 9300-9600 After halving and if we count that historically we have correction, if we llok to find this correction, seems that we will see it on the last shoulder of Inverse Head and Shoulder that its in process to form on monthly time-frame. Also seems that the bull run is not and very near as many they expect cause for the...
Last 24 hours news speaking about 1,5 Million wallets which they bough btc at 3,800 are ready to sell at 8,000... At this area 7900-8100 exist the most important resistance and the bears castle... Based on this news, based on the difficulty of this area, based on the bearish pattern that bitcoin follows from 12th of March (Rising channel/Bear Flag), and based on...
My opinion
Yesterday i mentioned the 5 Bearish signals. Today i will take the one of them which is the volume and i will say the following : To break Bitcoin Above 7900-8100 we need at least 2 times more volume than the volume of last break out of the levers 7150-7250. Also on 7600 area we have at the moment 9 failed trial. (This it shows weakness) In an old analysis with...
This channel last from 12 of March . More than one and half month. Has place yet to continue until 8100 maximum. There Bitcoin will receive a huge pressure as is the last resistance and the 100 MA on daily timeframe. Together i do not see bitcoin to go more up and i expect the correction and the break down of rising channel. From other side, volume does not...
7200 Get Rejected another one time. (Sign of upcoming correction from my view) ABCDE waves and i expect retest of 6885 - 6950 Below that range im waiting 6600 at least. A possibility to see for first time after long period, a test of 6300 to 6400 areas, is on the cards if the range of 6600 will not keep. In my opinion a retest of the following areas is necessary...
Here i just provide the supports and resistances we have at the moment. Easily we understand that Bitcoin can not move up or down so easy with result to have stabilization. I expect huge move upward ONLY IF we pass the resistance between between 7800 - 8100 I expect huge move downward only if we lose the last support. My opinion